Bitcoin > Banks! WINNING! Banks caught scamming!

[hashman]

i guess their profit was $ 500 billion

$4.3 billion is a joke for these banks. its all a joke. a sad one.

I know, it just shows it was orchestrated and they want to make the banks look like they actually were punished significantly.

I don't understand humanity sometimes, If everyone woke up overnight and realized this 'system' (call it what you want, NWO ETC) is rigged, and not for the benefit of the human species and its future!

"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning."

Henry Ford

[scarsbergholden]

Governments manipulate exchange rates, banks manipulate interbank rates. This has been going on for decades. Governments are levying fines now because their treasuries are empty. Soon they will collude again.

I don't think banks are really able to manipulate interest rates, nor exchange rates (as they were accused of doing). I think this was a case of bankers having a big ego and were bragging about being able to do things they were not really capable of doing, and as a result essentially admitted guilt to a crime they were not committing

[panju1]

I don't think banks are really able to manipulate interest rates

Banks can easily manipulate interest rates. Most of the borrowings of corporate borrowers are linked to LIBOR - London Inter Bank Offer Rate. LIBOR is also used extensively in the derivative markets.
And guess how LIBOR is calculated? It is calculated by taking a poll from various banks! Isn't that easy to manipulate?  

[funtotry]

I don't think banks are really able to manipulate interest rates

Banks can easily manipulate interest rates. Most of the borrowings of corporate borrowers are linked to LIBOR - London Inter Bank Offer Rate. LIBOR is also used extensively in the derivative markets.
And guess how LIBOR is calculated? It is calculated by taking a poll from various banks! Isn't that easy to manipulate?  

Your facts are accurate, however your conclusion is not. Each of the banks that are polled are polled because they have a large trading desk that relies on these interest rates to price bonds. In order for the rates to be manipulated then they would all (or almost all) need to work together, and they would all have inside knowledge where the price will be in the future. The problem with exploiting this is that they all tend to trade with eachother in large volumes, so if they all knew the price of bonds is going to increase then they would all buy, but no one would be willing to sell because they know the price is going to be higher.

[General_A]

lol 'attempted' currency manipulation, they manipulate currencies on a daily basis and are sanctioned by governments to do it.

Fixed it.....

lol 'attempted' currency manipulation, they manipulate currencies on a daily basis and are sanctioned rewarded by governments to do it.

[Silverspoon]

Bit ironic how bitcoiners rage against banks stealing munyz while their buddies, the other bitcoin financiers, pound them without so much as a kiss, a bit of lube, or even bus fare home  (pirate@40, TradeFortress, Ukyo, Criptocyprus (Danny Brewster/Neo BEE) etc., etc., etc.)

[botany]

Bit ironic how bitcoiners rage against banks stealing munyz while their buddies, the other bitcoin financiers, pound them without so much as a kiss, a bit of lube, or even bus fare home  (pirate@40, TradeFortress, Ukyo, Criptocyprus (Danny Brewster/Neo BEE) etc., etc., etc.)

Have the banks paid the price?
You shouldn't be comparing pirate@40 with banks. If at all you need his equivalent in the fiat world, think of Madoff.

[Silverspoon]

Bit ironic how bitcoiners rage against banks stealing munyz while their buddies, the other bitcoin financiers, pound them without so much as a kiss, a bit of lube, or even bus fare home  (pirate@40, TradeFortress, Ukyo, Criptocyprus (Danny Brewster/Neo BEE) etc., etc., etc.)

Have the banks paid the price?
You shouldn't be comparing pirate@40 with banks. If at all you need his equivalent in the fiat world, think of Madoff.

All the names listed above ran exchanges/"bank-like entities"/financial services.  But just for luls, what percentage of world's total fiat has Madoff absconded with?

[General_A]

"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning."

Henry Ford

No truer word said by any man.

[caga]

I am sure banks would be able to manipulate prices of bitcoins if they want to .
They might even be able to demotivate people from investing into bitcoin.

[General_A]

I am sure banks would be able to manipulate prices of bitcoins if they want to .
They might even be able to demotivate people from investing into bitcoin.

I wasn't aware people even questioned it 

[spiller]

i guess their profit was $ 500 billion

$4.3 billion is a joke for these banks. its all a joke. a sad one.

they don't give a S!$% about 1 billion. to these guys 1 billion is like uppps... wow, couch change just exchanging different credits from several people farms. and they are just havin' a ball. doing lines and driving new ferraris. nothing changed folks.  

referee blew a whistle on this one, and took the ball away for a minute. the players are crying already. weee. wheeee. gonna be careful next time im cheatin u. when they say they are reviewing procedures, they are just too suprised they got called for. they will make sure its not happening again, and make sure the regulator stash is big enough so the whistle don't work.

anyway if you know about financial compliance business both sides get nicely greased. most of them drink at the same pub regulators and traders all the same. and forex traders will be playing the same game this time 2018, 2020 and so on. there is no change in the system.

... simply just can't wait for them to move into crypto, so we can wash the floor a bit with these old school hags. show them how real trading is done. and serve a side of ass kicking. everyday. cheers spiller

[samuel999]

Shame on you; Bank Of America, CitiBank, Wells Fargo, JP Morgan Chase etc.


http://www.latimes.com/business/la-fi-bank-fine-foreign-exchange-jpmorgan-citibank-20141112-story.html

Well if it's true, it's really nothing new.  Banks will got to any means to make a buck it seems like lately, and the government bails them out should their foolish investments get them into any trouble.

[spiller]

"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning."

Henry Ford

No truer word said by any man.

the invisible chains are hard to see. yet everyone wants more ... lol

[sandykho47]

Banks is of the most biggest scamming system in modern history
Only traditional economic system / bitcoin can prevent this

[micky123]

There is no doubt at all in my mind that banks are also manipulating BTC to their benefit - Creating panic and large scale pump and dumps to scare people away from Bitcoin. They are afraid that if mass adoption of Bitcoin takes place, they will lose their business. I am sure there is a cartel of banks somewhere trying to stop the adoption of Bitcoin, and they seem to be succeeding too. They dont really need to invest too much to cause a dump unfortunately!

[Net5kY]

Gold would be best currency

[cbeast]

Gold would be best currency

On the internet gold is only a color.

[Hope78]

''Banks caught scamming!''
This sound like a paradox to me. They run a legit scam anyway.

[Dread Pirate Roberts]

thats true .many bussines plan think about it